Monday, October 24, 2011

Down But Not Out: Investors and Home Buyers Returning to Inland Empire

From the front-page at yesterday's Los Angeles Times, "Inland Empire is showing early stirrings of recovery."
Few places have been as devastated by the Great Recession as the Inland Empire, a region of 4 million people encompassing Riverside and San Bernardino counties. Unemployment has tripled since 2006. Home values have plunged 56% in Riverside County and 60% in San Bernardino County. Nearly 12,500 foreclosure notices were filed in the three months that ended Sept. 30.

Yet amid the stillborn subdivisions, abandoned storefronts and crowded unemployment offices, there are early stirrings of recovery.
Well, praise be Obama! (Or Jerry Brown — our local Democrat messiah!)

We even had unemployment come down to 11.9 percent from 12.1 percent. Booming!